Subject relative to Havelock/New Bern
Subject relative to Havelock/New Bern
Subject relative to Havelock/New Bern

Mobile Home Park Details

  • Purchase Method: Cash
  • Cap Rate: 9.0%
  • Listing ID: 477148
  • Posted On: Oct 14, 2014
  • Updated On: Nov 24, 2015

Description

Mobile Home Park and other rental units. Three parcel combo over 8 acres. Great income producing property with potential for expanded mobile home unit rentals, additional income, and property appreciation. Cap Rate of 9%.and more with expansion. No vacancy. Currently 5 apartments, 5 park owned mobile homes and 5 mobile homes/spaces. Room to add 8-12 MH spaces and opportunity acquire 6 additional off market contiguous spaces.

Location

Strategically positioned between Havelock (home to Cherry Point Marine Corp Air Station) and New Bern. Constant demands for rentals. Just off US Hwy 70.

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Park Information

Community Type: All Age
Number of MH Lots: 15
Total Occupancy: 100.0 %
Size: 8 acre(s)

Financial Information (Pro Forma)

Gross Income: $77,640
Operating Expense: $20,139
Net Operating Income: $57,501
Expense Ratio: 25.9 %

Lot Information

Singlewide Lots: 10

Utility Information

Water: City
Water Paid By: Tenant - Individual Service
Sewer: Septic

Park-Owned Homes

Number of Park-owned Homes: 5
Average Rent for Park-owned Homes: $370

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